https://www.taxtmi.com/caselaws?id=4029 The Tribunal ruled in favor of the respondent, holding that the interest rate applicable on defaulted duty payments should correspond to the rate at the time of default, not at the time of payment. It emphasized that interest rate changes should only apply prospectively, not retroactively. The Commissioner's decision to uphold the respondent's appeal was deemed valid, highlighting the importance of consistency in applying interest rates to past defaults. The Revenue's appeal was rejected, affirming the Commissioner's decision on interest rate calculation. en-us Mon, 31 Dec 2007 00:00:00 +0530 Thu, 15 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4029 The Tribunal ruled in favor of the respondent, holding that the interest rate applicable on defaulted duty payments should correspond to the rate at the time of default, not at the time of payment. It emphasized that interest rate changes should only apply prospectively, not retroactively. The Commissioner's decision to uphold the respondent's appeal was deemed valid, highlighting the importance of consistency in applying interest rates to past defaults. The Revenue's appeal was rejected, affirming the Commissioner's decision on interest rate calculation. Case-Laws Central Excise Mon, 31 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4029